Sequential Brands Group Sees Unusually-High Trading Volume on Analyst Upgrade (SQBG)
Shares of Sequential Brands Group (NASDAQ:SQBG) saw strong trading volume on Wednesday after Brean Capital raised their price target on the stock from $10.00 to $15.00, Analyst Ratings Network.com reports. Brean Capital currently has a buy rating on the stock. 367,130 shares traded hands during mid-day trading, an increase of 194% from the previous session’s volume of 124,725 shares.The stock last traded at $13.76 and had previously closed at $11.66.
Several other analysts have also recently commented on the stock. Analysts at Sidoti initiated coverage on shares of Sequential Brands Group in a research note on Wednesday, May 21st. They set a “buy” rating on the stock. Separately, analysts at Roth Capital raised their price target on shares of Sequential Brands Group from $9.00 to $10.00 in a research note on Friday, May 2nd. Finally, analysts at Canaccord Genuity raised their price target on shares of Sequential Brands Group from $9.00 to $11.00 in a research note on Friday, May 2nd. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. Sequential Brands Group has an average rating of “Buy” and an average target price of $12.00.
The stock’s 50-day moving average is $9.95 and its 200-day moving average is $7.48. The company has a market cap of $335.5 million and a P/E ratio of 60.41.
Sequential Brands Group (NASDAQ:SQBG) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.03 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.02 by $0.01. Analysts expect that Sequential Brands Group will post $0.24 EPS for the current fiscal year.
Sequential Brands Group, Inc, formerly People’s Liberation, Inc is a designer, marketer and wholesale provider of branded apparels and apparel accessories.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.